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WGC: Global Gold Demand Up 12% in H1 2022

Gold demand for the first half of 2022 was up 12%, totaling 2,189t
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According to the WGC’s (World Gold Council) latest Gold Demand Trends report, global gold demand was down 8% year-on-year to 948tin Q2 2022. However, “thanks to strong ETF inflows in Q1,” gold demand for the first half of 2022 was up 12% year-on-year, totaling 2,189t, Rough & Polished reports.

 

Gold price dropped 6% year-on-year in the second quarter of 2022 “as investors shifted their focus to rapidly rising interest rates and a strikingly strong US dollar,” according to the report.

 

This decline “impacted gold ETFs, which saw outflows of 39t in Q2.” Net H1 inflows totalled 234t, compared to 127t of outflows in H1 2021. According to the report, “the Q2 decline likely sets a weaker tone for ETFs in H2, given a potentially softening inflation outlook amid continued rate rises.”

 

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Credit: Neil Lockhart / shutterstock.com


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